Economic Forex Calendar is a very important tool for anyone who is working in Foreign exchange trading. Working without a calendar is much more like delving into the treasure hunt without having any maps or hints to guide your path. The economic calendar contains all the details about the most important meetings that might have an impact on your trading decisions. It also provides the foreign exchange traders with crucial announcements like upcoming economic releases, important speeches and meetings about the interest rates.
There are multiple benefits that you can enjoy as you will up to date with latest economic indicators that are released by the governments and major players in the world market, the indicators are:
- Consumer Confidence Index: This indicator is also known as CCI. It provides information about the confidence that the consumers have in spending and what is their spending power. The indicator is obtained after researching more than 5000 households. It can tell a lot about the power of the economy of a country.
- Consumer Price Index: This informs about the changes in the price of the goods available to the public. It can help keep track of inflation and is calculated using price difference over 200 categories.
- Durable Good Order: This indicator helps in ensuring in updating about the manufacturing orders of the country and what goods are going to be manufactured in the upcoming sessions.
- Employment cost index: It gives the right kind of information about the salaries and benefits given to the employees and the increase in the wages and salaries.
- Gross Domestic product of the country: This is an indicator that tells about the possible growth and wellness of the country. It includes factors like product output, expenditures of the household and the incomes. It is usually calculated by compares values over a certain period of time.
Meta Trader Multi Terminal:
It is one of the best and highly advanced piece of technology that has been designed to ease the process of calculations, data collections and analysis. It is quite easy to use and can be used through little training. The meta trader multi terminal is a must have as it can help in calculating the required ratios and indicators that are generally published in the economic forex calendar.
The meta trader has multiple screens that enable the analysts to view the data live and generate the required indicators and related information can be used to conduct analysis. This a very useful tool for companies that are involved in generating and putting together the economic forex calendar. The benefits that the Meta Trader Multi Terminal offer are:
- Very easy to use.
- Highly compatible with other devices.
- Allows quick analysis of data as it allows multi screen access.
- The programming includes pre installed complex financial programs that can help analyze and create required trends.
- The multi screen allows the trader access to view the trade screen, the trend graphs and the relevant tools all at once.